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OFAC Enforcement Action: NewTek, Inc.

NewTek, a company from San Antonio, settled its liability for 52 non-egregious, voluntarily self-disclosed violations of the Iranian Transactions and Sanctions Regulations (ITSR) for $189,483. OFAC specifically noted the company’s cooperation and remedial response in the overview of the action notice. What NewTek did (and didn’t do) From approximately December […]

OFAC Enforcement Action: Bank of China (UK)

Bank of China’s London branch is paying $2,329,991 (from a $4,313,799 base) for 111 voluntarily self-disclosed violations of the Sudanese sanctions program, committed between September 2014 and February 2016. What Bank of China did As a result of an internal investigation triggered by a Sudanese customer’s request to process a […]

FinCEN Enforcement Action – BitMEX pays $100,000,000 for Willful BSA Violations

FinCEN Announces $100 Million Enforcement Action Against Unregistered Futures Commission Merchant BitMEX for Willful Violations of the Bank Secrecy Act ContactOffice of Strategic Communications, 703-905-3770Immediate ReleaseAugust 10, 2021 WASHINGTON—The Financial Crimes Enforcement Network (FinCEN) has assessed a civil money penaltyin the amount of $100 million against BitMEX, one of the oldest and […]